Iran admitted the refusal to participate in the informal meeting of OPEC

Iran has not yet made a decision to participate in the informal meeting of OPEC, scheduled for the end of September in Algeria. According to The Wall Street Journal, it was stated by the representative of the Iranian Ministry of oil.

She also noted that Iran has not yet reached the level of production that would enable him to take part in any agreement to limit it.

The Iranian representative of the Ministry, answering the question of whether to reach the pre-sanctions production levels by the end of September, said, “We don’t think so”.

Earlier, Iranian authorities declared the intention to reach the pre-sanctions rate of 4-4. 2 million Barr./day. In July, Iran had produced, according to OPEC, 3.6 million bbl./day.

In early August, several OPEC members called for a return to the idea of freezing the level of oil production. The possibility of consensus was associated with a change in Iran’s position.

Predictions about the possible agreement of the major oil exporters to achieve equilibrium in the market caused a rise in oil prices in recent days. If 3 August, a barrel of Brent cost less than $42, today it trades above $48.